Is City Living Back In High Demand?

During the COVID-19 pandemic, there was a documented shrinking interest in living in cities, with many looking to the country as a new, viable way of living.

The global pandemic-induced tree change trend is seemingly losing momentum according to Knight Frank’s Global Buyer Survey.

Here, the survey of 900 clients across a total of 49 markets looked at the impact of COVID-19 on residential buyers’ attitudes to purchasing homes.

Globally, 19% of respondents have moved since the start of the pandemic – a figure that rises to 25% in Australasia.

Respondents cited a need for more outdoor (22%) and indoor (19%) space as the driving factors behind the moves.

Further, 20% of respondents who hadn’t moved were considering moving in 2021 as the pandemic continues to evolve.

Out of those respondents, 38% were looking at city locations – a strong indication that metro regions may be coming back into favour while 33% prefered more suburban locales.

Detached houses, waterfront residences or villas are still in strong demand, making up 46% of respondents. Elsewhere, country estates were also in demand, with 34% looking at that property type.

Surprisingly demand for apartments has shot up by 19% to 31% compared to 2020, with Knight Frank suggesting those changes reflect increased demand for a pied-a-terre in city centres.

Highgate Hill in Melbourne’s illustrious Toorak snuck onto Australia’s most expensive street list last year, coming in 19th position according to Suburbtrends data. Although the real estate research group said the median sale price was $5.102 million, trophy homes on the exclusive cul de sac can command far more.

Number 10 is a sleek new designer residence, the brainchild of architects David Watson and Christopher Doyle with gardens by prized landscaper Jack Merlo. Listed with a guide of $20 million to $22 million, the bespoke five-bedroom family home is an innovative benchmark for modern luxury in Melbourne, showcasing a vast floor plan and sophisticated finishes topped off with enviable city views.

On describing the designer dwelling, Doyle said it is a “symphony of light”.

“Highate Hill is an excellent showcase for our passion and dedication to luxury. Every element has been tuned to create the masterpiece you see before you,” he says.

“It’s a very sharp, elegant type of modernism, it’s not a hard edge sort of modernism. The site is blessed because of its geography, it’s high on the hill and has this lovely vista towards the city which is really unusual in Melbourne. And in Toorak, when you have that opportunity, you take every advantage of it.”

Overflowing with space over three levels, the artfully designed home has a choice of entertaining areas and private retreats suitable for all the family and plenty of guests all year round.

The ground floor is the central gathering space with a formal combined living and dining room spilling out to a peaceful courtyard, a separate den with a fireplace and a casual open plan zone adjoining the dream kitchen.

This culinary heart of the home has a grand Galassia marble island bench, sleek black American oak cabinetry, a suite of Gaggenau appliances, and a full butler’s pantry housing Miele appliances for hidden meal preparation. All this flows seamlessly out to a palatial terrace complete with a barbecue area and an Italian Artusi grill. For outdoor entertaining beyond the terrace, there is an infinity pool, a spa and a private courtyard.

“Architecture is the intersection between art and science. We love creating a house that is both gallery large, yet individual and intimate. The best buildings tell a story. They evoke emotions and create a strong sense of home. Highgate Hill is a testimony to this idea,” Doyle adds.

Up on the first floor, all five bedrooms have walk-in wardrobes and ensuites, but the primary suite goes above and beyond. This spacious main has a full dressing room with a bench seat and a deluxe five-star ensuite featuring a freestanding bathtub and twin vanities.

The Highgate Hill home hits every mark on an avid entertainer’s wish list with a host of added extras, including a second-floor private lounge and bar with a top-floor terrace capturing the city skyline, plus a lower ground floor home cinema with custom-made furniture, a ultra HD 4K projector, the latest Dolby Atmos sound and a kitchenette.

Additional features include a home office, a lift to all levels, a wine cellar, gym, marble and oak herringbone floors in the living spaces, or carpet in the bedrooms.

Other high-tech extras include a Savant whole-house automation system, Dynalight intelligent lighting, CCTV, zoned heating and cooling, electric sheer curtains and solar power.

Located near Toorak’s shops and eateries, Chapel Street boutiques, sought-after schools, Como Park and the Kooyong Lawn Tennis Clubs.

The Toorak residence is listed through Kay & Burton Stonnington with Oliver Booth and Ross Savas with an expressions of interest campaign.

Is City Living Back In High Demand?

A survey from Knight Frank indicates urban interest is returning.

A new Toorak residence, 10 Highgate Hill tells a story of art meeting science.